Trump to announce $200B China tariffs on Monday - report

EPA / MARTIN REICH

United States President Donald Trump plans to announce new tariffs of about $200 billion on Chinese goods, the Wall Street Journal reported citing people familiar with the matter who said that the formal announcement is expected on Monday or Tuesday.

According to the report, the tariffs will likely be about 10%, below the 25% announced by the US administration earlier this year. The tariffs level is reduced in order to ease the impact on customers in the US ahead of the holiday shopping season and mid-term elections.